How to Build Enduring Wealth w/ Guy Spier (RWH042)

William Green chats with renowned hedge fund manager Guy Spier, who has run the Aquamarine Fund since 1997. Guy talks about compounding wealth over decades, lessons from Warren Buffett, and his own mistakes, how to succeed by avoiding poor investment behavior, building the right relationships, and recognizing our weaknesses.

IN THIS EPISODE, YOU’LL LEARN
00:00:00 - Intro

00:01:09
Why it’s so intense for Guy Spier & William Green to collaborate.
How telling the truth changed Guy’s life.
Why the Global Financial Crisis terrified him.

00:22:42
Why it’s hard to invest rationally in the real world of chaos & confusion.
How Guy deals with his emotions when making investment decisions.
Why his default position is to hold his stocks indefinitely & resist meddling.

00:37:06
Why he didn’t sell his stake in Alibaba.
Why he’s pleased with & disappointed by his investment returns.
How excessive risk destroyed a fund manager he once knew.

00:55:39
What Guy learned from investing in a company that went bankrupt.
Why his mission is long-term compounding without catastrophe.
What the fastest skiers can teach us about success & survival.

01:02:53
What we can learn from Warren Buffett about financial resilience. 
What dumb investment behavior Guy Spier strives to avoid.
Why we should be especially wary of leverage.

01:09:28
What type of companies he shuns.
Why good relationships are a key to financial & personal success. 
Why it’s vital to find “friends along the path” who support us emotionally.

01:36:05
Why it’s helpful to shine a light on our own weaknesses.
How he handles painful, contentious conversations.
How to engage with people whose beliefs & experiences differ from ours.

02:20:29
What role money does—or doesn’t—play in a rich & meaningful life. 
What Guy learned from Warren Buffett’s exercise of writing your own obituary.
How reading great literature can make you wiser & happier.

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▶️ RELATED EPISODES:
Investing Prudently In Perilous Times w/ Guy Spier:    • Investing Prudently In Perilous Times...  
5 Life Lessons from Guy Spier | The Education of a Value Investor:    • 5 Life Lessons from Guy Spier | The E...  
The Education Of A Value Investor By Guy Spier:    • The Education Of A Value Investor By ...  
Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis:    • Celebrating Charlie Munger w/ Mohnish...  
What I’ve Learned From Warren Buffett & Charlie Munger w/ Chris Davis:    • What I’ve Learned From Warren Buffett...  
How To Be Happy, Calm & Focused w/ Tsoknyi Rinpoche & Daniel Goleman:    • How To Be Happy, Calm & Focused w/ Ts...  

🎧 Listen to our episodes here: https://link.chtbl.com/TIP-RWH

🖊️ Access the transcript and learn more about the guest here:
https://www.theinvestorspodcast.com/r...
https://www.theinvestorspodcast.com/r...

📖  BOOKS MENTIONED:
The Education of a Value Investor by Guy Spier: https://amzn.to/3Vih2wM
Richer, Wiser, Happier by William Green: https://amzn.to/3O7gkOg
Gandhi: An Autobiography by Mahatma Gandhi: https://amzn.to/3Tegp4C
Ergodicity by Luca Dellanna: https://amzn.to/3TgYnP7
Power vs Force by David Hawkins: https://amzn.to/3T9D6a2
The Developing Mind by Daniel Siegel: https://amzn.to/3vbqNC5
Doing Imago Relationship Therapy in the Space-Between by Harville Hendrix: https://amzn.to/3IAC9Te
In Search of Lost Time by Marcel Proust: https://amzn.to/4ceRGpp

Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀

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